Consolidated financial statement of the Eurosystem as at 8 January 2016

12 January 2016

Items not related to monetary policy operations

In the week ending 8 January 2016 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 1.7 billion to EUR 270.9 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
7 January 2016  21-day US dollar liquidity-providing reverse transaction USD 925 million -
7 January 2016  7-day US dollar liquidity-providing reverse transaction - USD 117 million

The above liquidity-providing transactions were conducted by the Eurosystem in connection with the standing swap arrangement that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 1.4 billion to EUR 356.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 9.7 billion to EUR 1,073.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.2 billion to EUR 67.5 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) decreased by EUR 16.5 billion to EUR 329.9 billion. On Wednesday, 6 January 2016, a main refinancing operation (asset item 5.1) of EUR 89 billion matured and a new one of EUR 70.6 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.5 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 210.1 billion (compared with EUR 212.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 9.3 billion to EUR 812.4 billion. The table below provides the detailed breakdown of asset item 7.1 into the different portfolios. All portfolios are accounted for at amortised cost.

Monetary policy securities portfolios Reported value as at 8 January 2016 Difference compared with 1 January 2016 – purchases Difference compared with 1 January 2016 – redemptions
Covered bond purchase programme 1 EUR 20.6 billion - -
Covered bond purchase programme 2 EUR 9.7 billion - -
Covered bond purchase programme 3 EUR 143.9 billion +EUR 0.6 billion -
Asset-backed securities purchase programme EUR 15.3 billion - -
Public sector purchase programme EUR 499.9 billion +EUR 8.7 billion -
Securities Markets Programme EUR 123.0 billion - -

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 7.6 billion to EUR 563.4 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 338,713 0
2 Claims on non-euro area residents denominated in foreign currency 308,782 1,666
  2.1 Receivables from the IMF 80,368 −16
  2.2 Balances with banks and security investments, external loans and other external assets 228,414 1,682
3 Claims on euro area residents denominated in foreign currency 29,220 −1,889
4 Claims on non-euro area residents denominated in euro 19,904 −338
  4.1 Balances with banks, security investments and loans 19,904 −338
  4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 540,177 −18,812
  5.1 Main refinancing operations 70,632 −18,347
  5.2 Longer-term refinancing operations 469,543 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 2 −466
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 110,587 2,724
7 Securities of euro area residents denominated in euro 1,169,112 7,953
  7.1 Securities held for monetary policy purposes 812,441 9,305
  7.2 Other securities 356,671 −1,352
8 General government debt denominated in euro 25,145 0
9 Other assets 225,250 −5,560
Total assets 2,766,889 −14,256
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 1,073,862 −9,677
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 773,697 5,278
  2.1 Current accounts (covering the minimum reserve system) 563,436 7,572
  2.2 Deposit facility 210,126 −2,290
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 136 −4
3 Other liabilities to euro area credit institutions denominated in euro 4,903 −300
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 149,438 7,633
  5.1 General government 67,466 8,171
  5.2 Other liabilities 81,973 −537
6 Liabilities to non-euro area residents denominated in euro 38,904 −15,625
7 Liabilities to euro area residents denominated in foreign currency 2,811 7
8 Liabilities to non-euro area residents denominated in foreign currency 5,104 1,427
  8.1 Deposits, balances and other liabilities 5,104 1,427
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,179 0
10 Other liabilities 215,616 −3,002
11 Revaluation accounts 346,172 0
12 Capital and reserves 97,204 3
Total liabilities 2,766,889 −14,256

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